European sovereign debt crisis歐洲主權(quán)債務(wù)危機(jī)_第1頁
European sovereign debt crisis歐洲主權(quán)債務(wù)危機(jī)_第2頁
European sovereign debt crisis歐洲主權(quán)債務(wù)危機(jī)_第3頁
European sovereign debt crisis歐洲主權(quán)債務(wù)危機(jī)_第4頁
European sovereign debt crisis歐洲主權(quán)債務(wù)危機(jī)_第5頁
已閱讀5頁,還剩12頁未讀, 繼續(xù)免費(fèi)閱讀

下載本文檔

版權(quán)說明:本文檔由用戶提供并上傳,收益歸屬內(nèi)容提供方,若內(nèi)容存在侵權(quán),請進(jìn)行舉報(bào)或認(rèn)領(lǐng)

文檔簡介

EuropeansovereigndebtcrisisContents1.Description2.Causes4.China’sresponsetotheESDC3.ImpactAnalysisCompanyLogo1.DescriptionHappeninEuropeancountriesSpringfromnationalcreditThereissomethingwrongwiththegovernment’sbalancesheet(orthegovernment’sfinancialstatus).SovereignDebtOnecountryborrowsdebtsraisedonthesecurityofnationalsovereigntyfromothercountries,theOrganizationofInternationalCurrencyFundandtheWorldBank

Ifthedebitsidesfailandpostponepayingbackthedebt,thecreditsideswillnotwithdrawcouponsandinvestmentprofitsintime.Thatleadstocrisis.2.Causestheglobaleconomicslowdowneasycreditconditionduringthe2002-2008periodthatencouragedhigh-risklendingandborrowingpracticesinternationaltradeimbalancereal-estatebubblefiscalpolicychoicesrelatedtogovernmentrevenuesandexpensesapproachesusedbynationstobailout(緊急救助)troubledbankingindustriesandprivatebondholdersThreeMainCauses

2.1Risinggovernmentdebtlevel

(directreason)

risingdebtlevelsofEuropeancountrieswerecausedbyexcessgovernmentspending.Thelargebailoutpackagesprovidedtothefinancialsector,whichleadstohighfiscaldeficitsintheeuroarea.

2.2.Monetarypolicyinflexibility(fundamentalreason)

Sincemembershipoftheeurozoneestablishesasinglemonetarypolicy,individualmemberstatescannolongeractindependentlyprintmoneyinordertopaycreditorsandeasetheirriskofdefault.2.3Lossofconfidence

Investorshave

doubtaboutthepossibilitiesofpolicymakerstoquicklydealthecrisisbecausethedefectintheEuromonetaryunit.Thestockmarketsfell,asdidconsumerconfidenceintheeconomy.

Furthermore,asconsumersstoppedspendingandbanks

stoppedlending,thefiscalcrisisfurtherdeteriorated●SetbackinglobalfinancialmarketsThesovereigndebtcrisishasshakentheinnerstabilityoftheglobalfinancialmarkets,andevenbegintointerferewiththeefficientpricingofmarketriskassetsandtheallocationofresources.●

PositionoftheeuroandtheeurozonestabilitywillbetestedAsthelargesteconomicandtradeoftheCommonwealth,theEUhasbenefitsofthesinglecurrency.However,thelackofeffectiveearlywarningmechanismandexitmechanism,whichledtomonetarypolicyintheeuroareaisdifficulttobeeffectivecoordinationofnationalfiscalpolicy.3.ImpactAnalysis●

Relatedeconomiesfaceapolicydilemma,whichwillslowthepaceofglobaleconomicrecovery.

Ifsignificantlyreducepublicspending,isextremelydetrimentaltoeconomicrecoveryandemployment;Iftoleratingfiscaldeficits,thedebtproblemisdifficulttosolveintheshortterm.

●Increasetheriskofglobalhighinflation

Ifthedebtorcountriesdealwithsovereigndebtcrisesbydebtmonetization,thensovereigndebtcrisiswilleventuallyevolveintotheinflationcrisis.Part4China’sresponsetotheESDC“WeappreciateEuropeancountries’importanteffortstostabilizethemarketandpromoteeconomicgrowth”.saidLiuWeimin,spokesmanfortheministryWebelievetheEuropeancountrieswillbeabletoovercomethecurrentdifficulties,andChinaisreadytoworkwiththeinternationalcommunitytocontinuetosupporttheeffortsofEuropeinfightingthesovereigndebtissue

ButChinahasmadenofirmcommitmenttoprovidingfinancialassistance.2012-01-18

PremierWenJiabaomadecleartheChinesegovernment‘sstanceontheEuropeandebtcrisisduringGermanChancellorAngelaMerkel’sfifthofficialvisittoChinasincetakingoffice.(德國總理安吉拉·默克爾)

WenexpressedtheurgencyandimportanceofsolvingEurope'sdebtcrisisandsaidChinaisconsidering"involvingitselfmoredeeplyin"effortstoaddressthedebtissue.PremierWensaidEuropeans'owneffortsshouldplayavitalandfundamentalroleinresolvingthecrisisAndtheEU,asawhole,shouldcontinuallypushforwardsystematic,structuralandfundamentalfiscalandfinancialreformsinadditiontoadoptingemergencybailoutmeasures(緊急救助措施),andfeedtheinternationalcommunitywithmoreuniformanddefinedideastosolvetheproblem

Ontheotherhand,hesaidChineseauthoritiesarestudyingandassessingmoreproactiveeffortstoresolveEurope‘sdebtissuebyfinancingtheIMFandthroughtheEuropeanFinancialStabilityFund(歐洲金融穩(wěn)定基金),theEuropeanStabilityMechanism(歐洲穩(wěn)定機(jī)制)andotherchannels.2012--2

溫馨提示

  • 1. 本站所有資源如無特殊說明,都需要本地電腦安裝OFFICE2007和PDF閱讀器。圖紙軟件為CAD,CAXA,PROE,UG,SolidWorks等.壓縮文件請下載最新的WinRAR軟件解壓。
  • 2. 本站的文檔不包含任何第三方提供的附件圖紙等,如果需要附件,請聯(lián)系上傳者。文件的所有權(quán)益歸上傳用戶所有。
  • 3. 本站RAR壓縮包中若帶圖紙,網(wǎng)頁內(nèi)容里面會有圖紙預(yù)覽,若沒有圖紙預(yù)覽就沒有圖紙。
  • 4. 未經(jīng)權(quán)益所有人同意不得將文件中的內(nèi)容挪作商業(yè)或盈利用途。
  • 5. 人人文庫網(wǎng)僅提供信息存儲空間,僅對用戶上傳內(nèi)容的表現(xiàn)方式做保護(hù)處理,對用戶上傳分享的文檔內(nèi)容本身不做任何修改或編輯,并不能對任何下載內(nèi)容負(fù)責(zé)。
  • 6. 下載文件中如有侵權(quán)或不適當(dāng)內(nèi)容,請與我們聯(lián)系,我們立即糾正。
  • 7. 本站不保證下載資源的準(zhǔn)確性、安全性和完整性, 同時(shí)也不承擔(dān)用戶因使用這些下載資源對自己和他人造成任何形式的傷害或損失。

評論

0/150

提交評論